10 things to watch on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Sunday.

1) Saudi Arabia’s Public Investment Fund (PIF) raised its stake in Saudi Arabian Mining Co. (Maaden) to 65.44 percent, or about 764.64 million shares, as of June 7. Separately, the mining company signed a contract with Bangladesh Agricultural Development Corporation to export diammonium phosphate fertilizers during 2018-2019.

2) Saudi Arabia’s economy emerged from recession in Q1 2018, with data indicating that a raft of public sector bonuses provided support to the non-oil sector, Capital Economics said.

3) Saudi Arabia’s Finance Ministry signed an agreement to appoint five local banks - Alinma Bank, Bank Aljazira, National Commercial Bank (NCB), Samba Financial Group and Saudi British Bank (SABB) - as primary dealers in local government securities.

4) United Electronics Co.’s (eXtra) board of directors recommended a 19.05 percent capital hike to SAR 500 million from SAR 420 million.

5) Fawaz Abdulaziz Alhokair Company signed a long-term syndicated murabaha deal with the Saudi National Commercial Bank, Samba Group and Abu Dhabi Islamic Bank at a value of SAR 1.125 billion.

6) Saudi Telecommunication Company (STC) appointed Nasser bin Sulaiman Al Nasser as the new chief executive officer (CEO) effective June 7.

7) Tabuk Cement Co. has extended its SAR 478.6 million loan with Bank Albilad by one year, ending March 13, 2019, the cement producer said.

8) Saudi Pharmaceutical Industries and Medical Appliances Co.’s (SPIMACO) sold 2.6 million shares of Yanbu National Petrochemical Co. (YANSAB) for SAR 72.64 a share, totaling SAR 194.3 million.

9) Saudi Public Transport Co. (SAPTCO) appointed Abdullah Al Aqeel as acting board chairman.

10) The appeals court in Madinah has issued a decision to cancel a previous ruling in favor of Saudi Automotive Services Co. (SASCO) to receive three sites from the Madinah Municipality.